Labor Productivity In A Pandemic
From the San Francisco Fed-- this post authored by John Fernald, Huiyu Li, and Mitchell Ochse
Source: econintersect.com
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Fiscal rules in the European Monetary Union | VOX, CEPR Policy Portal
Fiscal rules were enshrined in the founding documents of the European Monetary Union. This column presents the latest CfM-CEPR survey, in which the panel of experts on the European economy were nearly unanimous in agreeing that the existing EU fiscal rules require revision. Most panel members would opt for some combination of fiscal councils; more flexible, countercyclical, or
Source: voxeu.org
Papers by Michael Ehrmann
Abstract Using business survey data on German manufacturing firms, this paper provides tests for hypotheses formulated in capital market imperfection theories that predict distributional effects in the transmission mechanism of monetary policy. Effects of monetary policy shocks on the business conditions of firms of several size classes are analysed, with the finding of considerable asymmetry. As predicted by theory, small firms are affected more strongly than large firms. To test whether these effects are reinforced when the economy is in a business cycle downturn, the paper employs a new es...
Source: ecb.europa.eu